Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production overhead cost was applied at 120% of direct labor cost. Selected data concerning the past year's operation of the company are below presented Direct materials Work in process Finished goods Other information Direct materials purchases Cost of goods available for sale Actual factory overhead costs $ 93,000 82,000 131,000 56,000 58,000 116,000 340,000 950,000 276,000 The amount of underapplied or overapplied overhead is: $86,000 overapplied. $48,000 underapplied. $48,000 overapplied. $0. $86,000 underapplied